Press Release
Continuing its active involvement in this prestigious international summit, Elias Neocleous & Co. LLC sponsored the Legal500 GC Summit 2026 in Cyprus, marking eight consecutive years of support.
The Legal500 GC Summit is widely recognized as a key platform for dialogue between in-house counsel and leading law firms, fostering collaboration, knowledge exchange, and meaningful discussion of emerging legal and regulatory developments.
Held at the Landmark Nicosia Hotel, the conference welcomed approximately 100 leading lawyers and in-house counsel from high-caliber companies across Cyprus.
The event provided an opportunity for participants to interact, network, and discuss current legal and regulatory developments, including the recent incorporation of EU Regulation 2019/452 into Cyprus law through the Law on the Establishment of a Framework for the Control of Foreign Direct Investments (FDI) of 2025, which is scheduled to enter into force on 2 April 2026.
This timely topic was the focus of an engaging panel delivered by Elias Neocleous & Co LLC.
The panel explored the concept of investing with foresight under the new FDI screening mechanism and featured the following speakers:
Mrs. Andrea Kallis, Partner at Elias Neocleous & Co LLC;
Mr. Alexey Drobyshev, Deputy Chief Legal Officer at Sumsub;
Mrs. Rafaella Charalampous, Senior Legal Counsel at Pepperstone EU Limited;
Mr. Emilios Charalambous, Associate Lawyer at Elias Neocleous & Co. LLC.
Following the opening remarks by Mrs. Andrea Kallis, the key aspects of the new law were presented by Mr. Emilios Charalambous, who outlined its background, scope, process, and potential impact. His introduction set the foundation for a high-level and informed legal discussion.
In turn, Mrs. Rafaella Charalampous, drawing on her experience in corporate structuring, shared her views on whether the new provisions are likely to deter or attract foreign capital. The discussion addressed the possibility of fund rerouting through alternative legal structures or jurisdictions with less stringent screening frameworks.
In the same vein, Mr. Alexey Drobyshev provided his perspective on how the new law may be received by affected foreign investors and offered a broader assessment of whether such regulations contribute to making the European Union a safer and more attractive investment destination.
The panel concluded with Mr. Emilios Charalambous offering practical guidance to the lawyers and general counsels present on how best to support their clients under the new framework.
Before closing the session, Mrs. Andrea Kallis presented four key questions that the firm had raised with the Ministry of Finance, as the supervising authority of the FDI law, together with the responses received. This provided the audience with further clarity on the regulator’s approach and intentions going forward.
Overall, the panel delivered valuable insights into the operation, implications, and evolving perceptions of foreign direct investment (FDI) in Cyprus, reaffirming Elias Neocleous & Co. LLC’s commitment to contributing meaningfully to the legal community and to the development of an effective and sustainable services industry.
For more information or inquiries, please contact our partner Mrs. Andrea Kallis Parparinou at andrea.kallis@neo.law, or our Associate Mr. Emilios Charalambous at emilios.charalambous@neo.law
